this post was submitted on 29 Oct 2025
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I had not thought of that, horrible consequence. Also makes it even easier for the mega rich to hide their money from taxes using charities.
It seems like a complicated but repeatable formula: Start a non-profit dedicated to some technology, leverage the charity status for influence and tax avoidance and PR and recruiting true believers in the initial stages, and then make a bunch of financial deals conditional on your non-profit changing to for profit, then claim you need to change to for-profit or your organization will collapse!
Although I'm not sure how repeatable it is without the "too big to fail" threat of loss of business to state AGs. OTOH, states often bend the rules to gain (or even just avoid losing) embarrassingly few jobs, so IDK.
More worried about hostile takeovers of existing charities tbh. Esp when the requirements to do this get eased more and more every attempt.